GOOD NEWS FOR MSFT... THE STREET.COM... MR. JAMES CRAMER SEEMS TO HAVE WARMED UP TO TECHS... HE'S BEEN THE BIGGEST BEAR OF MSFT FOR PAST 2 OR 3 MONTHS... BUT NOW LISTEN...
Forgetting About the Next Shoe Dropping in Tech
By James J. Cramer
We are a personal computer stock blow-up away from a great trading
opportunity in tech. Everybody fully expects a fiasco on the horizon,and I
am sure one will surface. I know I have stayed away from this group for
what seems like a lifetime, but I also know that the group has had amajor
move down. In the meantime, almost every other sector has had its day inthe sun.
In the interim, we saw good rallies in the consumers, in the banks, andin
the oils and the oil-service stocks. We had nice runs the papers,chemicals
and airlines.Now these groups seem to have gotten too pumped versus tech, in my
book. Iknow I have been loathe to get involved until Compaq (CPQ:NYSE) stops
goingdown -- I am short Compaq -- but I think that tech's fundamentals have
bottomed for now, and I would like to get long something.
Friday, as I mentioned in my chat, I started buying some Intel
(INTC:Nasdaq). The company was around town, saying it wasn'tdisappointed
with its performance of late. I also feel that the Microsoft(MSFT:Nasdaq)
announcement took the risk out of that stock for now. And these D-Rams,one
day's uptick in pricing and they will explode upwards. Meanwhile,Microsoft
indicated on its call that personal computer sales remain very strong. |
